Brief of Supreme Court’s Verdict on Amrapali Mess
A brief of verdict given by the Supreme Court on July 23, that the Amrapali Group has violated the doctrine of public trust by permitting diversion of funds of homebuyers.
A brief of verdict given by the Supreme Court on July 23, that the Amrapali Group has violated the doctrine of public trust by permitting diversion of funds of homebuyers.
In the year of 2016, a new set of laws as RERA Act have been implemented, specifically to protect the homebuyer and ensure the growth of real estate sector.
The Hon’ble National Company Law Tribunal (NCLT) has admitted the Insolvency Petition against the EMAAR MGF Land Ltd. filed by one of the homebuyers i.e. Mr. Neeraj Gupta.
The application filed by the homebuyers under section 7 of IBC shall be maintainable. Therefore the homebuyers are advised to approach NCLT under IBC to recover their stuck money in a time-bound manner.
An application filed by the homebuyers under section 7 of IBC shall be maintainable. Therefore the homebuyers are advised to approach NCLT under IBC to recover their stuck money in a time-bound manner.
The high court upheld the decision of the Appellate tribunal by directing the builder to deposit the 50% of the refund amount as ordered by the authority in order to hear the plea.
Complaint filed against the developer Shahaji Javir for delaying the possession for a period of 9 long years of the flat booked in Nitin Enclave at Airoli in the month of June of year 2018.
MPRERA authority refused to provide pro buyer relief over the issue of maintenance of project whose possession rests with the buyers already, citing non-specific provisions for the same.
Karnataka (Real Estate Regulatory Authority) is the authority made for homebuyers so that they can get relief and developers cannot exploit them.